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Get your taxes done using TurboTax
Thank you for clarification. So under Sale of Business Property, I click on Sales of business or rental property. On the next screen " Do all of the following apply to the property you sold?" I click NO because only 2 out of the 3 criteria apply:
* you owned the property more than one year YES
*you sold it for a profit YES
* It is one of these property types:
-property you took a depreciation deduction for NO
-certain farm land NO
-oil, gas ... NO
Did I do that correctly by clicking NO since not all of the criteria apply to me?
on the next screen Do any of the following description apply to the items you sold? I click NO because I owned the property more than one year, and did not sold it at a loss. Then next screen has Total Gross Proceeds on form 1099-b and 1099-s I entered what is recorded in box 2 of my substitute 1099-s.